Renovated Four-Unit
For Sale
$2,550,000
2219 60th Street, Brooklyn, NY 11204
Residential, Brooklyn, NY
Property Size3,280 SF
Lot Size0.06 Acres
Price / SF$777.44
Days on Market38
Property Features for 2219 60th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 8, Bedroom 2, Bedroom 7, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 5
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Boro-Park
Standard status
Active
Size
3,280 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
16592
Building Details
Year built
1928
Floors in Building
2
Number of units
4
Flooring type
Tile, Laminate
Building materials
Brick
Roof type
Flat
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Xi Xian (Johnny) Pan · License #XXP4124
(646) 407-6668
Added: Aug 7
Changed: Sep 12
Last Checked: Sep 13 at 5:06AM
MLS# 503622
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated quadplex contains four vacant apartments, each arranged with two bedrooms and one bathroom. The 3,280-square-foot brick property was built in 1928 and includes laminate and tile flooring, refrigerators, and stoves. A finished basement with direct outdoor access expands the usable space, while a private driveway and backyard add practical exterior features. The flat-roof building is zoned R6 and occupies 0.0644 acres.
The property is located between Bay Parkway and 60th Street in Brooklyn. Restaurants, shops, supermarkets, and other everyday services surround the area, with access to the B6 and B9 bus lines and the F and N trains. The four-unit layout supports full-property occupancy, owner use in one apartment with additional units available, or multigenerational residential arrangements.
The property is located between Bay Parkway and 60th Street in Brooklyn. Restaurants, shops, supermarkets, and other everyday services surround the area, with access to the B6 and B9 bus lines and the F and N trains. The four-unit layout supports full-property occupancy, owner use in one apartment with additional units available, or multigenerational residential arrangements.
Key Highlights
- Four vacant apartments, each with 2 bedrooms and 1 bathroom
- 3,280‑square‑foot brick quadplex built in 1928
- Finished basement with direct outdoor access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$114,871
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,297,420
$2.3M
Cap Rate 7%
$1,641,014
$1.6M
Cap Rate 9%
$1,276,344
$1.3M
Market Conditions
NOI Build-Up for 3,280 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$167.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$164.1K $50.03/SF
− OpEx
−$49.2K −$15.01/SF
NOI
$114.9K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,297,420
Cap Rate 7%
$1,641,014
Cap Rate 9%
$1,276,344
Alternative Uses
Best Use
Multifamily LT 5
$1.64M
$1.44M – $1.91M
NOI $114,871 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,135 @ 7.0% cap · market cap 3.93%
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.17M
NOI $190,109 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,114
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four vacant two-bedroom apartments provide flexible residential occupancy options in a brick building with a finished basement.
Where is this quadplex located?
The property is located at 2219 60th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Four vacant apartments, each with 2 bedrooms and 1 bathroom; 3,280‑square‑foot brick quadplex built in 1928; Finished basement with direct outdoor access
